Submitted on Thursday 4th August 2011
Published on Monday 15th August 2011
Current status: Closed
Closed: Wednesday 15th August 2012
Mortgage holiday break entitlement
With Mortgages, for most of us, being the biggest financial commitment everyone should be entitled to have a 1 month mortgage payment break to help ease financial pressure. I understand this sits with the bank but pressure from the government to make law is required. After all money is what makes the world go round and having the ability to take a 1 month break (once a year, or a defined periods) to catch up on ‘other debt’ or simply have some fun, take the family on holiday should be available.
Obviously nothing is free, as this would add a month to the term of the mortgage, which to be honest adding a single month to a 20, 30, etc year mortgage is nothing.
Havening an agreed break would free up £100’s for households, which will be spent in turn helping jump the economy into growth.
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